According to a recent analysis by DesRosiers Automotive Consultants (DAC), a leading Canadian research organization, a degree of stability has returned to the automotive space.

According to DAC, the third quarter of 2024 showed a stabilization in retail sales in most areas of the automotive space.

The key key car sales segment–new car dealers and used car dealers, both saw low single digit growth.

Retail sales at new vehicle dealers for the year thus far increased 1.5% over the same time last year with a 3.1% increase in Q3 alone.

Used vehicle dealers also saw modest growth at 1.1% above the first three quarters of 2023 with the third quarter specifically rising 1.7%.

Retail parts, and accessory and tire story sales saw a slighly more bumpy road, varying month-to-month.

Sales in this segment remained flat on average across the nine months with a 1.5% increase in the third quarter says DAC.

The one exception to the overall flat to slightly up conditions in the automotive space is gasoline sales.

Retail sales at gasoline stations decreased overall by 2.2% year-to-date and 5.3% for Q3 – due largely to lower gas prices, with September 2024 especially seeing declines as average gas prices fell to $1.50 per litre compared to $1.68 in the same month in 2023.

It is notable that over that period, the much criticized carbon tax on fuel increased 3.3 cents April 1, 2024 with no additional cuts in provincial taxes over the same period. (Ontario and Manitoba had previously instituted provincial cuts that extend through this period.)

“The modest pickup in non-gas automotive retail sales in the third quarter was a welcome sight,” commented Andrew King, Managing Partner at DAC. He continued, “So far, retail sales figures appear to point towards a rather unremarkable year, which in itself may be a welcome change from recent history.”

DAC offers a wide range of products and services, including detailed sales forecasts for the new and used sides of the Canadian automotive market, and for more than 25 aftermarket product areas. 

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